The linear regression chart from 22/11/16 to the 2.1c. sp low on 24/03/20, generated an upper channel range of 43.5c., and a lower channel range of 13.5c.
From 24/03/20, TP's & key horizontal support/resistance levels , both to the upside and downside, are forward looking (extrapolated)....PREDICTIVE in nature ....and will be (generally) MULTIPLES of their respective ranges, including range mid points.
The level of immediate relevance is 6.5c......and the CLOSE on 01/12 @ 6.6c., was subtle, but not insignificant. Consistent CLOESES above 6.6c. would be an indication to expect further upside.....with an (interim) TP of 13c.
On the watchlist!
The $US gold price LINEAR REGRESSION chart, from 03/1995 to the $252 gp low on 25/08/1999, generated a channel range high of $294 and a channel range low $220....a $74 RANGE.
From 25/08/1999, UPSIDE TP's and key horizontal support/resistance levels are forward looking (extrapolated) .......PREDICTIVE in nature.....and will be (generally) MULTIPLES of that $74 range.
Now for the EXTRAPOLATED, PREDICTIVE maths...... $74 x 24 = $1776.
$1776 + $294 = $2070.....the POG HIGH on 07/08/2020.
The next (interim) POG target ?......that would be $2070 + $74 = $2144.
Cheers.....and a timely entry into GBR?
GBR Chart, page-91
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